Common use of Conditions to Subscriber's Obligations Clause in Contracts

Conditions to Subscriber's Obligations. 3.1 The obligation of Subscriber to close the transaction contemplated by this Agreement (the "Transaction") is subject to the satisfaction on or prior to the Closing Date of the following conditions set forth in Sections 3.2 through 3.5 hereof. 3.2 The Company shall have executed this Agreement. 3.3 The Board of Directors of the Company shall have adopted resolutions consistent with Section 4.1(d) below. 3.4 Subscriber shall have received copies of all documents and information which it may have reasonably requested in connection with the Offering. 3.5 The Exchange shall have been simultaneously consummated. 3.6 The Registration Statement shall have been filed with the SEC. 3.7 The representations and warranties of the Company shall be true and correct on and as of the Closing Date as though made on and as of such date. 3.8 If so requested by Subscriber, the Company shall have delivered to the custodian for the Subscriber duly executed certificate(s), registered in the name of Subscriber's nominee, representing the Public Company Shares.

Conditions to Subscriber's Obligations. 3.1 The obligation of Subscriber to close the transaction contemplated by this Agreement (the "Transaction") is subject to the satisfaction on or prior to the Closing Date of the following conditions set forth in Sections 3.2 through 3.5 3.8 hereof. 3.2 The Company shall have executed this Agreement. 3.3 The Board of Directors of the Company shall have adopted resolutions consistent with Section 4.1(d) below. 3.4 Subscriber shall have received copies of all documents and information which it may have reasonably requested in connection with the Offering. 3.5 The Exchange shall have been simultaneously consummated. 3.6 The Registration Statement shall have been filed with the SEC. It being further acknowledged that the effectiveness of the Registration Statement shall be maintained until the earlier of the second anniversary of the declaration of its effectiveness by the SEC or the date all the shares of the common stock registered therein have been sold. 3.7 The representations and warranties of the Company shall be true and correct on and as of the Closing Date as though made on and as of such date. 3.8 If so requested by Subscriber, the Company shall have delivered to the custodian for the Subscriber duly executed certificate(s), registered in the name of Subscriber's nominee, representing the Public Company Shares.